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Assisted Reproductive Technology (ART) Market Size
- Report ID: GMI506
- Published Date: Jan 2023
- Report Format: PDF
Assisted Reproductive Technology Market Size
Assisted Reproductive Technology Market was valued at more than USD 35 billion in 2022 and is poised to grow significantly at over 6.5% CAGR from 2023 to 2032 driven by the rising prevalence of infertility worldwide.
Several factors, such as hereditary problems, delayed childbirth, and changing lifestyles, which include the adoption of sedentary eating habits, excessive smoking, and alcohol use, are contributing to the high infertility rate. Additionally, sexually transmitted infections, post-partum infections, post-abortion infections, and medically iatrogenic infections are increasing the prevalence of infertility among the population base, thereby increasing the demand for assisted reproductive procedures and products. According to National Center for Biotechnology Information (NCBI), infertility affects around 20% of couples globally, with figures in the European Union reaching as high as 25%.
Furthermore, prominent R&D efforts to advance assisted reproductive technology, along with the presence of significant industry players that continuously invest in the development of innovative products with enhanced features and effectiveness, are projected to augment market expansion. In addition, the development of healthcare facilities as well as rising government initiatives to educate people about the benefits of ART is foreseen to enhance the overall business scenario between 2023 and 2032.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Assisted Reproductive Technology Market Size in 2022: | USD 35 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6.5% |
| 2032 Value Projection: | USD 66 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 278 |
| Tables, Charts & Figures: | 318 |
| Segments covered: | Type, End-user/provider, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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High treatment costs may limit assisted reproductive technology market progress
The high cost of ART treatment as compared to conventional procedures in developed and certain emerging nations is adversely impacting product adoption. These procedures are not covered by insurance or reimbursement plans, which is also impeding the assisted reproductive technology business growth. However, government initiatives to promote ART technology and technical improvements may help overcome this barrier.
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Assisted Reproductive Technology Market Scope
